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    6501 Western Ave Chicago, IL 60645

    Sponsored
    For Sale
    $1,999,000

    Prime location, vacant auto shop, high traffic.

    Property size:
    5,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 5,000 square foot free-standing building, situated on a 14,000 square foot lot at 6501 N Western Avenue in Chicago, IL, presents a compelling investment opportunity. Currently vacant, this single-story structure boasts a prominent location on Western Avenue near Devon Avenue, within a thriving business corridor. The property features a high-visibility pole sign, a spacious showroom, an indoor garage accommodating approximately eight vehicles, and an exterior display area. Secure, fenced parking accommodates approximately 40 vehicles. The B1-2 zoning allows for a variety of uses, including retail storefronts and apartments above the ground floor, making it ideal for redevelopment or adaptation to suit diverse business needs. Its convenient location offers easy access to major roadways, including Lake Shore Drive, I-90, and I-94, and proximity to O'Hare Airport. The property is also within walking distance of public transportation and adjacent to Warren Park, benefiting from high pedestrian and vehicular traffic. This versatile property is perfect for multiple uses and offers significant potential for growth in a highly desirable Chicago location. The asking price is $1,999,000. The zip code is 60645.

    Property Features for 6501 Western Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    5,000 SF

    Building Details

    Stories
    1

    HighLights

    • $1,999,000 asking price for a vacant, 5,000 square foot auto shop.
    • Single‑story building on a 14,000 square foot lot with 40 parking spaces.
    • B1‑2 zoning allows for retail and apartments.
    • Located at 6501 N Western Avenue, Chicago, IL 60645, near Devon Avenue in a high‑traffic business corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mueze for 50 Campaign ... Political Party Office

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.689879854854
    Latitude
    41.999630334453

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    FAQs

    What type of property is this?
    Automotive property - Prime location, vacant auto shop, high traffic.
    Where is this automotive property located?
    The property is located at 6501 Western Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: $1,999,000 asking price for a vacant, 5,000 square foot auto shop.; Single-story building on a 14,000 square foot lot with 40 parking spaces.; B1-2 zoning allows for retail and apartments.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6501 Western Ave Chicago, IL 60645
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